Archive for July 22nd, 2010

Weekly Unemployment Claims Continue to Hold at Elevated Levels

| July 22, 2010

The Department of Labor reported that initial unemployment claims increased to 464,000 last week from 427,000 the week before. The four-week moving average continues to hold in the 460,000 area, indicating persistent weakness in the labor market.

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Existing Home Sales Fall in June

| July 22, 2010

The National Association of Realtors reported that sales of existing homes fell 5.1% to 5.37 million in June. The following graph from Calculated Risk displays the collapse in sales accompanying the implosion of the housing bubble in 2006 and 2007, along with the stimuli driven spikes in late 2009 and early this year. Note that […]

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Short-term Forecast for July 22, 2010

| July 22, 2010

Stock Daily Chart Analyses The following daily chart analyses provide short-term forecasts for the stock markets that we monitor. For intermediate-term outlooks see the latest weekly review, and for long-term outlooks see the big picture update. The S&P 500 Index Synopsis: The S&P 500 index closed sharply higher today, moving slightly above resistance at the […]

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